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Thursday, Feb 19, 2004

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Markets - Rights Issue


Balrampur Chini rights issue

KOLKATA: Balrampur Chini Mills Ltd (BCML) has decided to raise Rs 59.19 crore through rights issue to meet long-term working capital requirements and for improvement of debt-equity ratio.

A senior BCML official said existing shareholders would be issued 22,76,678 equity shares of Rs 10 each for cash at premium of Rs 250 per share in the ratio of 12 shares for every 100 shares held. ``An extraordinary general meeting has been convened to get approval of shareholders on the issue,'' the official said.

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